Facebook nabs Netflix CEO for board

NEW YORK (CNNMoney) -- Facebook nabbed one of the tech world's most admired leaders for a spot on its board: Netflix (NFLX) CEO Reed Hastings.

"Reed is an entrepreneur and technologist who has led Netflix to transform the way people watch movies and TV," Facebook founder Mark Zuckerberg said Thursday in a written statement. "He has built a culture of continuous rapid innovation, something we share and work hard to build every day."